RenaissanceRe (NYSE:RNR) Issues Earnings Results, Beats Estimates By $1.12 EPS

RenaissanceRe (NYSE:RNR) issued its quarterly earnings results on Tuesday. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12, Zacks reports. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%.

RenaissanceRe Price Performance

Shares of NYSE RNR traded down $3.99 during trading on Tuesday, hitting $259.23. The company had a trading volume of 485,105 shares, compared to its average volume of 497,889. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 3.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. The stock has a fifty day simple moving average of $261.83 and a two-hundred day simple moving average of $257.15. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RNR. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Evercore ISI upped their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $284.00.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.